On Wednesday, Alibaba group affiliate Alipay Singapore Holding Pte Ltd offloaded 262.87 million shares of Zomato for Rs 62.06 per share, the data showed. This represented 3.07% stake in the company.
Zomato’s scrip ended the day at Rs 65.25 on NSE, 2.7% higher than its previous close.
After the changing of hands of Zomato shares, Temasek now holds a combined 4% stake in the Gurugram-based company. It bought a 2.86% stake in Zomato in 2020 through its arm Macritchie Investments Pte Ltd.
After the sale, Alibaba will own approximately 10% in Zomato through its units Alipay Singapore Holding and Antfin Singapore Holding Pte Ltd.
Over the past few months, several key Zomato shareholders have exited or reduced their stakes in the company, including Sequoia Capital, Tiger Global, Uber and Delivery Hero.
Discover the stories of your interest
In August, Zomato informed the exchanges that Sequoia Capital had pared its stake from 6.4% to 4.4% by selling 66.69 million shares between September 6, 2021 and October 14, 2021, and 105.21 million shares between June 27, 2022 and August 25, 2022.
Tiger Global almost halved its stake in Zomato by selling 184.45 million shares between July 25 and August 2. Before that, Delivery Hero, Moore Strategic Ventures and D91 offloaded their entire stakes when Zomato’s mandatory post-IPO lock-in period expired in late July.
On August 3, Uber also sold 612.19 million shares, representing its entire shareholding in Zomato. Uber had received the shares when it sold UberEats to Zomato in an all-stock deal in 2020.
For all the latest Technology News Click Here
